The Village at Falcon Point in the Port Reading section of Woodbridge — Courtesy: NAI-DiLeo-Bram & Co.
By Joshua Burd
The developer of a new 56-unit multifamily complex in Woodbridge has sold the property, according to a brokerage team with NAI DiLeo-Bram & Co.
The seller, Falcon Partners LLC, completed The Village at Falcon Point property last year, delivering a seven-building collection of townhomes just off Port Reading Avenue. A private buyer purchased the property for an undisclosed price.
“The developers built this property with the intention of holding it for many years,” said David A. Simon, chief operating officer of NAI DiLeo-Bram. “Their attention to every detail and hands-on management approach enabled them to fully stabilize the property quickly in a competitive market during an unforeseen global health crisis. The buyer recognized the quality of this unique property and was excited to add it into its existing portfolio.”
Simon completed the sale alongside Robert V. DiLeo, Matthew DiLeo and Kyle Gerace, associates with the Piscataway-based brokerage firm. They noted that each unit at The Village at Falcon Point has private access, which has appealed to residents during the pandemic.
The property, which is located in the township’s Port Reading section, is minutes from downtown Woodbridge and a host of schools, shopping and dining options. It is also minutes from the Garden State Parkway, the New Jersey Turnpike, Interstate 287 and routes 1, 9 and 440.